Comedian Stephen Colbert seized his place in the pop-culture imagination as an over-the-top fake news pundit and anchor of the hit show "The Colbert Report." Achieving record ratings and a massive fan base, the show has been a vehicle for Colbert to become a larger than life personality and household name. His sweeping satire, political bent, religious views, and cultural critique have led people to call him everything from "comedic genius" to "ideological fanatic."

Good comedy is about more than just getting laughs. Good comedy tells the truth, reveals that the Emperor has no clothes,...